Cantor Fitzgerald analyst Derek Soderberg lowered the firm’s price target on Shoals Technologies to $24 from $28 and keeps an Overweight rating on the shares. Project delays and higher interest rates led to disappointing 2024 revenue guidance that was 20% below consensus estimates, the analyst tells investors in a research note. The firm believes the litigation with Voltage and Hikam America presents a potentially sizable binary outcome.
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